For the New York Mets, a new era is on the horizon. As confirmed by MLB Network’s Jon Heyman, hedge fund billionaire Steve Cohen is in agreement to acquire the major league team from the Wilpons.
The transaction that will see the native New Yorker acquire the Mets was later confirmed by Sterling Partners via a press release on Monday.
“I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said in the statement, per SNY.
Fred Wilpon has been the majority owner of the Mets since 2002.
Despite several competitive bids, most notably by Alex Rodriguez – Jennifer Lopez and Josh Harris – David Blitzer (owners of the Philadelphia 76ers and the New Jersey Devils) Cohen was always viewed as the favorite to end up with the New York Mets at some point.
Cohen was very close to buying the team last December before he pulled his initial offer after some differences appeared in the negotiations.
Cohen will own the New York Mets at long last
To be recognized as the official owner of the New York Mets, Cohen would need approval from the other 29 ownership groups in Major League Baseball, but that is expected to be a formality and not an obstacle.
Cohen, per the terms of the deal, is expected to be the owner of a 95 percent stake of the New York Mets, at a valuation of roughly $2.475 billion.
Cohen, a lifelong Mets fan, always dreamed of owning the team and now will get his wish, at long last.
The Mets are currently 21-26 in the 2020 shortened season, and while they are still hunting a spot in the playoffs, they are running out of time and games to play. They are currently in fourth place in the National League East division, out of a Wild Card spot.